Savings: Ways to Stretch Your Dollars – Part 2
Last week’s post explored how an EMMP can uncover hidden financial savings and things to consider when partnering with a vendor. This week’s topic covers a couple of other ways to think about savings as it relates to equipment maintenance.
- Cost Avoidance – This is defined as decreasing costs by lowering a potential increase in expenses. Remi’s Equipment Maintenance Management Program is a great example of cost avoidance over traditional OEM maintenance agreements. By using Remi’s EMMP, you can budget and project equipment maintenance costs for an entire year (or longer) compared to “pay as you go” models.
- Total Cost of Ownership – Total Cost of Ownership or (TCO) is an analysis that places a single value on the complete lifecycle of a capital purchase such as an MRI or CT Scanner. This includes every phase of ownership—acquisition, operation, costs of consumables, maintenance, and option to extend the life of equipment. Do you know what the TCO is for your equipment?
- Extending the Life of Equipment – The third and final way to think about savings is to determine if the business can extend the life of your equipment. When the OEM notifies customers about equipment end-of-life (EOL), Remi can explore extending the life of the equipment by utilizing its extensive vendor network to provide parts and repair that may not otherwise be available by the manufacturer.
Have another way to think about savings? Help us add to the list. Comment below.
This blog was also published by OHA HOTLINE Newsletter.